The objective was to geochemically survey prospective terrain in the vicinity of the Blackdome and Elizabeth mines to identify nearby targets.
The 1,740 soil samples collected identified statistically significant gold anomalies combined with strong correlations with known pathfinder elements.
A 400×150-metre gold-silver-bismuth-lead anomaly was identified 2.5 kilometres from the Elizabeth gold deposit, which will be further evaluated in the 2020 drilling and trenching program.
Shares have been up as much as 16% to an intra-day high of 29 cents, a new 12-month high.
Plan to grow resource base in 2020
Tempuss managing director Brendan Borg said: “We are very encouraged by the number and tenor of new soil anomalies generated outside of the known mineralisation at Blackdome-Elizabeth.
“We have established promising targets to extend existing resources with upcoming drilling and potential for a completely new discovery near Elizabeth.”
Notably, during December 2019 Borg purchased 100,000 company shares through on-market trades.
The $18,000 purchase increased his overall holding in the company to two million shares.